Trump Reaches Agreement with Automakers to Reduce Tariffs

• Trump Reaches Agreement with Automakers to Reduce Tariffs
• As reported by CNN.
• Here are the details.

US Secretary of Commerce Howard Lutnick confirmed to CNN on Tuesday that President Donald Trump’s administration has reached an agreement with domestic automakers.

The goal is to ease the burden caused by the high tariffs imposed on vehicle imports.

“This agreement represents a major victory for the president’s trade policy, as it rewards companies that manufacture domestically and clears the way for those investing in the US,”

Lutnick stated to the network.

Trump Reaches Agreement with Automakers to Reduce Tariffs

? The Trump administration opens the door to possible tariff relief for automakers. Here’s what we know so far. https://t.co/zvDE7bKIG6
— Forbes México (@Forbes_Mexico) April 29, 2025

Although the details of the deal have not been disclosed, the official announcement is expected on Tuesday during a Trump event in Detroit, Michigan, where he will celebrate the first 100 days of his second term.

A measure aimed at supporting the automotive industry.

The agreement aims to reduce the negative impact of the 25% tariffs that went into effect in April on imported vehicles, as well as additional tariffs on steel and aluminum—essential materials in car manufacturing.

The Wall Street Journal reported that Trump would unveil a new tariff structure to prevent further increases, thereby shielding local companies from higher production and sales costs.

Global impact

#Business | Lutnick says Trump will sign decree to ease tariffs for carmakers ? https://t.co/utYRC3HX7i
— El Economista (@eleconomista) April 29, 2025

The countries most affected by Trump’s tariff measures include Germany and Japan, as well as Mexico and Canada, though the latter two still benefit from temporary exemptions for auto parts.

According to official data, in 2024 the United States imported $475 billion worth of automotive products, nearly half of which were fully assembled vehicles.

Experts warn that the tariffs could increase the price of imported cars by thousands of dollars, impacting both supply and demand in the US market.

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